Gold price remains unchanged; silver price falls Rs 200 to Rs 56,400 per kg

Gold rates remained unchanged on Wednesday with 10 gram of the yellow metal (24-carat) trading at Rs 50,640, according to the GoodReturns website. The price of silver fell by Rs 200, to Rs 56,400 from Rs 56,600 yesterday.

The price of 22-carat gold also remained unchanged at Rs 46,420.

In Mumbai and Kolkata, 24-carat gold is selling at Rs 50,640 per 10 gram, while 22-carat gold is trading at Rs 46,420, respectively. In Delhi, 24-carat and 22-carat gold are trading at Rs 50,790 and Rs 46,570 per 10 gm, respectively.

In Chennai, 24-carat and 22-carat gold is trading at Rs 51,310 and Rs 47,050, respectively. 

Meanwhile, 1 kg of silver is selling at Rs 56,400 today. 

In Mumbai, Delhi and Kolkata, 1 kg of silver is selling at Rs. 56,400, while in Chennai, Bengaluru and Hyderabad, 1 kg of silver is selling at Rs 61,800.

US gold prices fell as the dollar steadied, while the US Federal Reserve's commitment to tightening monetary policy also weighed on zero-yield bullion's appeal.

Spot gold was down by 0.1 per cent at $1,650.75 per ounce, as of 0125 GMT. US gold futures went up 0.1 per cent at $1,657.30

Gold is highly sensitive to rising US rates, which increase the opportunity cost of holding the non-yielding asset.